Market Commentary

Chart of the Month | Strange Happenings in the Repo Market

Posted by Ivo C. Nenin, Ryan Driscoll on Oct 2, 2019

Topic: Market Commentary

An obscure but very large part of the financial markets caused a stir in late September. Lending rates spiked in the repurchase (repo) markets...

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Chart of the Month | Yield Curve Inversion – Signal or False Positive?

Posted by Ivo C. Nenin on Sep 5, 2019

Topic: Market Commentary

Lately, there has been quite a bit of hand-wringing by the financial media about the yield curve inversion. It seems that many prognosticators believe...

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An Investor’s Guide to Private Equity Today

Posted by Commonfund on Aug 22, 2019

Topic: Industry Knowledge | Investment Strategy | Market Commentary

Commonfund recently hosted a panel discussion focused on the current state of private equity and venture capital, with an emphasis on the investor’s perspective of the industry today.

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Recession – Maybe This Time is Different

Posted by Ryan Driscoll on Aug 1, 2019

Topic: Industry Knowledge | Investment Strategy | Market Commentary

The July Federal Open Markets Committee (FOMC) meeting signaled the end of central bank rate normalization with the first rate cut in more than a decade . . .

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Chart of the Month | Economic Expansions Getting Longer

Posted by Ryan Driscoll on Aug 1, 2019

Topic: Market Commentary

Following the July FOMC meeting and with investors digesting the first rate cut since 2008 it is important to recognize that the domestic economy is now...

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Chart of the Month | Defensive Stocks at a Premium

Posted by Ivo C. Nenin on Jul 2, 2019

Topic: Market Commentary

The valuation premium (forward price/earnings) of defensive stocks versus cyclicals has climbed steadily over the last seven months...

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Chart of the Month | Conflicting Signals in Stock and Bond Markets

Posted by Ivo C. Nenin on Jun 7, 2019

Topic: Market Commentary

This month we turn our attention to the Stock and Bond Markets. Bond markets’ expectations of U.S. Federal Reserve (Fed) rate cuts...

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Chart of the Month | U.S. Jobs Machine Keeps Cranking

Posted by Commonfund on May 1, 2019

Topic: Market Commentary

This month we turn our attention to the economy and, specifically, employment. As investors contemplate when this historically long period of economic...

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Chart of the Month | One Reason Investors Are Feeling Uneasy

Posted by Commonfund on Feb 25, 2019

Topic: Market Commentary

Investors of all types, including those that represent institutions, are clearly feeling more uneasy than they have in years. It isn’t just the spike in stock market volatility that buffeted investors in the fourth quarter of 2018 (after a prolonged period of abnormally low volatility), but the magnitude of the swings that may be the culprit. We researched the worst and best S&P 500 performing Decembers and Januarys since 1928...

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Are Investors Counting Their Eggs Before They Hatch?

Posted by Ryan Driscoll on Feb 11, 2019

Topic: Market Commentary

Beginning in January and now continuing into February, stock markets have rallied on positive news in areas of concern – mostly on the policy front. We remain cautious as in our view, policy risk tends to be the most difficult to price, but also the most likely to surprise...

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